The Value of Setting Business Goals
Goals are important to every business owner and manager because they provide a road map as well as momentum and motivation for the entire team. Whether financial, production, innovative, personal achievements or growth goals each has meaning and value to a evolving organization.
When setting goals, it’s important to dedicate a solid block of time for the planning process. This way you can document where you want your goals to take you, and during the same session, create the necessary steps that will help to execute the plan. With goals in place, you are able to prioritize your days and weeks, and constantly remind yourself and your team to stay on track.
When I first started Make It Happen, I sought the help of a professional business coach named Dr. Amy. I chose her because I knew that she was tenacious and would push me totally out of my box. Amy asked questions that were hard and that I didn’t have answers for, so she often sent me off with a list of questions that would need to be resolved by our next meeting. It was work and it made me grow exponentially.
Dr. Amy believed in my work and supported my vision, but more than that, she understood the need for a fact-based, goal driven plan and drilled this into my business foundations.
Dr. Amy passed away a few years ago but she left a legacy. The following are some the questions she facilitated me to answer. I share them with you because without these answers its difficult to set productive goals.
- What sets my business apart from my competitors?
- How will I incorporate my uniqueness into my overall business strategy?
- What are my Vision and Mission?
- What are my Core Values or Guiding Principles?
- What are the foundations that are in place, and what other foundations need to be set?
- What kind of team will I build?
- How am I going to measure success? By the number of clients? By my income? By my level of personal satisfaction?
- Where do I see my company in 1 year, 5 years, 10 years and so forth?
Once these questions have been answered, you are well on your way to defining your business goals and setting them in motion. And remember, it’s important to revisit your goals once or twice a year to see if you’re on track, or if you have wandered far from your original path. You can also modify your goals according to the successes you have experienced.
While setting business goals doesn’t guarantee success, it does keep you thinking about better ways to grow your business. Grab a cup of coffee, find a quiet place and answer the questions – it will be the best time you ever invested in your business.